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of republican opposition in the house. hastily leaving a meeting of house republicans today, eric cantor, the second highest ranking republican in the house, announced even he was opposed. >> i do not support the bill. >> reporter: house republicans objected because the bill includes virtually no spending cuts. in fact, the deal would actually add nearly $4 trillion to the deficit over the next ten years, mostly thanks to the cost of extending those tax cuts for everybody making under $400,000. >> there's no spending cuts. we're adding $4 billion a day to the debt. and we feel like the senate bill failed miserably. >> reporter: if they don't get their act together, the consequences will be immediate. the pentagon has already drafted notices to 800,000 civilian employees warning they may be put on unpaid leave. and those tax increases triggered today will start to hit our paychecks this week. the average family, seeing a tax increase of almost $3,500. there is intense pressure on house republican leaders to resolve this before the stock market opens tomorrow morning. they are hearing from
that's a bad idea. >> reporter: even eric cantor, the second-highest ranking republican in the house, was opposed to the deal struck by his colleagues in the senate. >> i do not support the bill. >> reporter: but others said, like it or not, the bill was the only way to prevent a big tax increase for virtually every american worker. >> republicans and the american people are getting something really important, permanent tax relief. >> reporter: the bill will prevent an income tax relief on workers earning under $400,000 a year. it also will extend unemploym t unemployments for people looking for work. but the bill leaves a lot left to do. in two months, the government will hit the limit of how much money it can borrow, unless congress raises the so-called debt ceiling. an automatic, across-the-board spending cuts to the pentagon and other agencies, are only to be delayed for two months, setting up yet another fiscal cliff on march 1st. congress has adjourned. the president is off to hawaii to meet up with his family. and hopefully, he thinks for a few days' vacation. >> you mentione
Search Results 0 to 1 of about 2